Deal-making movement may be building at U.S. container terminals. Macquarie Asset Management is looking to sell North American operator Ceres Terminals, the WSJ Logistics Report’s Paul Berger writes, as the Australian investor begins to wind down its Macquarie Infrastructure Partners III fund focused on big physical assets in the U.S. and Canada. Ceres operates both container terminals at secondary ports and box-handling business at gateways including Georgia’s Port of Savannah. Macquarie is looking for $1 billion for the business but strategic buyers in the shipping sector may be limited. CMA CGM bought terminals in Los Angeles and New York last year, and expansion-minded heavyweights like DP World of Dubai and China’s Cosco Shipping Ports face big geopolitical hurdles. The Macquarie fund also has a stake in Maher Terminals at the Port of New York and New Jersey, but there’s no talk so far on selling that holding.

Hestia Capital Management has a stronger foothold at Pitney Bowes as it tries to turn the shipping-services company in a different direction. The hedge fund that was involved in turning around video-game retailer GameStop won four seats on the nine-person Pitney Bowes board, building on its role as the company’s third-largest shareholder. The WSJ Logistics Report’s Liz Young writes that the seats give Hestia a stronger hand in its efforts to carve Pitney Bowes’s traditional postal-focused operations apart from its e-commerce business, and to replace Chief Executive Marc Lautenbach. It’s a classic proxy battle focused on a core concern for many companies as they consider how digital trends and tools will affect their business for years to come. Pitney Bowes says it remains focused on aligning its operations with sales and shipping markets that are increasingly moving online. Its management hopes shareholders favor that direction.

India is making a concerted push to be the top manufacturing destination for Western companies looking for a backup to China as the world’s factory floor. The country has scored several coups recently in its effort to gain from a supply-chain strategy widely termed “China plus one.” The WSJ’s Philip Wen, Vibhuti Agarwal and Greg Ip report that moves ranging from Apple’s decision to significantly expand iPhone production in India to the 2021 choice by Denmark’s Vestas to place two wind-turbine plants in the country have expanded India’s industrial base. India faces competition from other countries, and it must overcome entrenched problems that have kept it a bit player in global supply chains. But India is the only nation with a labor force and an internal market comparable in size to China’s, and decisions by big manufacturers like Vestas are drawing in more suppliers, helping establish supply-chain ecosystems. 

Electric-vehicle startups are facing dwindling piles of cash as they try to power up their production. Rivian Automotive narrowed its net loss to about $1.4 billion last quarter from $1.6 billion, but the manufacturer of delivery vans and cars also saw its cash reserves fall to $11.2 billion after it burned through $6.6 billion last year. The WSJ’s Sean McLain reports that Rivian, Lucid and Fisker are among a host of EV startups to go public recently, as investors placed bets on finding the next Tesla. Now, cash reserves are dwindling and larger legacy automakers are joining the EV race. Rivian slashed spending last quarter to conserve cash and stood by its vehicle production target for the year while Lucid and Fisker each dialed back output expectations. The struggles underline the difficulty of standing up a supply chain to transform from upstart to a large-scale manufacturer.

• Electric truck maker Nikola dropped out of a joint venture with a European supplier to focus on its North American operations. (CNBC)
• XPO ordered an unspecified number of electric trucks for its California operations. (Transport Dive)
• Tesla broke ground on its first lithium refinery in Robstown, Texas. (The Information)
• Subaru plans to increase its capacity to produce electric vehicles in Japan to 300,000 a year by around 2030. (Nikkei Asia)

Ryanair agreed to buy up to 300 Boeing 737 MAX passenger aircraft in a deal potentially worth $40 billion. (WSJ)

Bedding manufacturer Tempur Sealy is buying retailer Mattress Firm in a $4 billion deal. (WSJ)

Amazon is offering to pay some of its Prime members to pick up purchases as the company seeks to cut delivery and returns costs. (Reuters)

The Federal Maritime Commission named its first director of the regulator’s expanding enforcement program. (Journal of Commerce)

CMA CGM is seeking to order up to 10 mega-size container ships with methanol fuel capability. (TradeWinds)

CMA CGM moved closer to acquiring Bolloré Logistics with a formal $5.5 billion offer for the business. (Maritime Executive)

U.S. authorities are putting $3 billion behind an effort to electrify ports and another $1 billion toward clean heavy-duty trucks. (Splash 247)

Portland, Ore., will require deliveries within a designated zone to be made by zero-emissions vehicles. (Supply Chain Dive)

Longtime wholesale supplier Wilson Sporting Goods is expanding its brick-and-mortar sales. (Modern Retail)

Korean Air’s cargo revenue fell 51% in the first quarter from a year ago. (Air Cargo Next)

Germany’s Prewave raised $20 million in a follow-on to its Series A funding round backing its supply-chain risk-management platform. (TechCrunch)

Gartner says historically low labor productivity and high turnover are threatening progress in corporate supply chains. (DC Velocity)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.